Financial Auditing II

Financial Accounting, Management Accounting, Company Law, Taxation

This curricular unit follows a logic of teaching based on work and teaching based on problem solving. Although supervised, this teaching will have the autonomy of the student.

This Curricular Unit aims to present the most relevant theoretical and practical aspects of international auditing standards, Portuguese legislation and regulations issued by professional and supervisory bodies. Specifically:

– It is intended to provide the development of skills to perform and understand the fieldwork of an audit of financial statements and its fundamentals,

– Familiarization with the methodologies and practical procedures related to specific topics.

– Provide an integrated view of the process of a financial audit.

The student after attending the Curricular Unit should have knowledge about the object and objective of the financial audit, the different phases of the audit and the procedures to be developed in each phase. He/she should also be competent to perform procedures for obtaining audit evidence and draw appropriate conclusions assessing the possible impact on the auditor’s report.

Introduction

        1.1. Concept and need for auditing – agency theory

        1.2. Limitations of an audit

 2. Commitment and planning an audit

 3. Audit evidence

 4. Audit of the balance sheet and income statement

      4.1. Cash and deposites

      4.2. Cycle of purchases of goods and services, personnel and debts payable

      4.3. Inventories

      4.4. Sales cycle, service provision and debts receivable

      4.5. non-financial investments

      4.6. Financial investments

      4.7. Personnel expenses

      4.8. Equity

 5. Complete an audit

 6. Audit reports and opinions

NAO

Main bibliography:

Almeida, B. (2022) Manual de Auditoria Financeira – Uma análise integrada baseada no risco, 4ª Edição, Escolar Editora, Lisboa.

Almeida, B., 2005, Auditoria e sociedade – Diferenças de expectativas, Publisher Team.

Assembleia da República. Lei n.º 140/2015, de 7 de setembro, Diário da República Série I nº 174 – Estatuto da Ordem dos Revisores Oficiais de Contas (alterado pela Lei n.º 99-A/2021 de 31 de dezembro)

Assembleia da República. Lei n.º 148/2015, de 9 de setembro, Diário da República Série I nº 176 – Regime Jurídico de Supervisão de Auditoria (com as alterações introduzidas pela Lei n.º 35/2018, de 20 de julho, e pela Lei n.º 99-A/2021, de 31 de dezembro)

Complementary bibliography:

Arens, A., Beasley, M. et al., 2016, Auditing and assurance services: an integrated approach, 16th, Prentice Hall.

Johnstone, K. Gramling, A., et al., 2018, Auditing: A business Risk Approach,11th ed. South-Western

Morais, G. e Martins, I. (2013) Auditoria Interna – Função e Processo; Editora Áreas, 4ª edição.

Valderrama, J., 2008, Teoria e prática de la auditoria I, Ediciones Pirâmide.

Whittington, O., Pany, K., 2018, Principles of Auditing & Other Assurance Services, 21th, McGrawHill